- Bioxyne is revelling in its status as one of only a few profitable ASX medical cannabis stocks
- Regulators are tackling the ‘wild west’ elements of the Australian market, but it’s still tipped to grow to more than $1 billion a year
- In a sign of the times, Little Green Pharma proposes to merge with the unlisted Cannatrek to create a sector giant
Bioxyne (ASX:BXN) founder and CEO Sam Watson is replete with praise for Australia’s medicinal cannabis regimen – but the wacky labelling needs to go.
“I have seen some crazy labelling he says,” he says. “Aliens and rastas in bright colours and things like that.”
Snoop Dogg has his own label, naturally.
Bioxyne doesn’t grow its own stuff, but ‘white labels’ product for dozens of other suppliers.
“Sometimes we look at the proposed label and say ‘we don’t want to make that product’,” Watson says.
“It’s more like recreational cannabis and not in the spirit of where the industry should be going.”
Sure enough, a Therapeutic Goods Administration (TGA) crackdown means self-respecting doctors no longer will have to prescribe ‘donkey breath’ or THC-infused ‘peanut butter balls’ for chronic pain.
Watson says the Australian regimen is meant to be a special access scheme, to enable patients not responding to traditional medicine to access the unapproved products.
“But sometimes there have been overly zealous prescribers and that’s where we need to focus and tighten the belt.”
Meanwhile, the sector is due for much-needed consolidation with the proposed merger of the ASX listed Little Green Pharma (ASX:LGP) and the unlisted Cannatrek.
Read the full Article by Stockhead here: https://stockhead.com.au/health/biocurious-for-bioxyne-chief-sam-watson-pot-stock-success-is-more-than-a-funky-labelbiocurious-for-bioxyne-chief-sam-watson-pot-stock-success-is-more-than-a-funky-label/